AUDUSD’s upside movement from 0.5507 extended to as high as 0.6039.
AUDUSD’s upside movement from 0.5507 extended to as high as 0.6039.
As long as the price is above the rising trend line on the 4-hour chart, the upside movement could be expected to continue, and next target would be at 1.6200 area. Key support is at 0.5864, only a breakdown below this level could trigger another fall towards 0.5500.
Futures, options, stocks, ETFs and over the counter foreign exchange products may involve substantial risk and may not be suitable for all investors. Leverage can work against you as well as for you. You should therefore carefully consider your investment experience as well as financial condition before deciding if trading is suitable for you.
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